Vancouver city council approved a property tax increase of 3.9 per cent for 2025 on Tuesday, for a total budget of $2.4 billion.
The vote comes after weeks of debate and fine-tuning as staff first released the proposed budget on Nov. 21, suggesting an increase of 5.5 per cent.
An amendment on Tuesday put forward by Mayor Ken Sim saw the proposed increase reduced by reallocating and transferring two line items in the operating budget.
This allowed for a total reduction of $9.4 million from the staff-proposed budget.
Tuesday’s approval comes after council issued a 7.5 per cent hike in property taxes last December.
More to come.
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With files from Monika Gul.